CA in Jaipur | CA. Yogesh Jangid |ITR Filing 2023 | Company Registration | NGO Registration | Income Tax Raid Cases | Audit | Inc Incroporation | CPA in India | Subsidy | Project Funding | GST | GST Raid Cases | Income Tax Notice Faceless | DRI Cases | https://www.nyca.in ITR Filing 2023 | Company Registration | NGO Registration | Income Tax Raid Cases | Audit | Inc Incroporation | CPA in India | Subsidy | Project Funding | GST | GST Raid Cases | Income Tax Notice Faceless | DRI Cases Sat, 30 Mar 2024 10:09:45 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 https://www.nyca.in/wp-content/uploads/2022/08/9060CA_logo_icai-1.jpg CA in Jaipur | CA. Yogesh Jangid |ITR Filing 2023 | Company Registration | NGO Registration | Income Tax Raid Cases | Audit | Inc Incroporation | CPA in India | Subsidy | Project Funding | GST | GST Raid Cases | Income Tax Notice Faceless | DRI Cases | https://www.nyca.in 32 32 Revenue Department is not empowered to seize Cash under GST https://www.nyca.in/revenue-department-is-not-empowered-to-seize-cash-under-gst/ https://www.nyca.in/revenue-department-is-not-empowered-to-seize-cash-under-gst/#respond Sat, 30 Mar 2024 10:09:45 +0000 https://www.nyca.in/?p=8112 The Delhi High Court, in the matter of Jagdish Bansal v. Union of India [W.P. (C) No. 16677 of 2023 dated February 26, 2024], granted relief to the petitioner by allowing the writ petition

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The Delhi High Court, in the matter of Jagdish Bansal v. Union of India [W.P. (C) No. 16677 of 2023 dated February 26, 2024], granted relief to the petitioner by allowing the writ petition. The court instructed the Revenue Department to return the seized cash along with interest. The judgment emphasized that the Revenue Department lacks authority to seize cash under the applicable GST laws.

Facts of the case:

Search and seizure procedures were conducted at the premises of Jagdish Bansal, resulting in the confiscation of cash by the Revenue Department.

Displeased by this action, Jagdish Bansal filed a writ petition in the High Court, challenging the lawfulness of the cash seizure.

Issue:

The central issue at hand was whether the Revenue Department possessed the legal authority to seize cash under the GST framework.

Held:

In its ruling on W.P. (C) NO. 16677 OF 2023, the Delhi High Court made the following determinations:

  • Referencing the decision of the Delhi High Court in K.M Food Infrastructure Pvt Ltd Through Its Director Mukesh Kapoor Vs Director General DGGI Headquarters [W.P. (C) 328/2024 dated February 13, 2024], the court construed Section 67 of the Central Goods and Services Tax Act, 2017.
  • It observed that cash does not fall under the definition of goods but rather under the definition of money as outlined in Section 2(75) of the CGST Act.
  • The court reiterated that cash cannot be categorized as goods and therefore cannot be subject to seizure.
  • It concluded that there was no valid reason for the Revenue Department to retain the seized cash.
  • Consequently, the court deemed the impugned order as null and directed the Revenue Department to return the seized cash along with interest.

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]]> https://www.nyca.in/revenue-department-is-not-empowered-to-seize-cash-under-gst/feed/ 0 CBIC Declares March 29-31, 2024 as Working Days for All Customs Field Formations https://www.nyca.in/cbic-declares-march-29-31-2024-as-working-days-for-all-customs-field-formations/ https://www.nyca.in/cbic-declares-march-29-31-2024-as-working-days-for-all-customs-field-formations/#comments Fri, 29 Mar 2024 07:06:36 +0000 https://www.nyca.in/?p=8067 The Central Board of Indirect Taxes and Customs (CBIC) has announced that March 29th, 30th, and 31st, 2024 will be considered as working days for all Customs field formations.

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The Central Board of Indirect Taxes and Customs (CBIC) has announced that March 29th, 30th, and 31st, 2024 will be considered as working days for all Customs field formations. This decision is communicated through a letter dated March 28, 2024, with reference number F.No.401/118/2016-Cus.III (Pt.).

All Customs field offices are required to remain operational during these days, and officers and staff are expected to report for duty as usual. It is requested that this information be disseminated among all personnel for compliance.

The directive has been issued with the approval of the relevant authority. 

The full letter can be accessed at: https://www.nyca.in/wp-content/uploads/2024/03/Letter_Customs_Working_Day_280324.pdf

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]]> https://www.nyca.in/cbic-declares-march-29-31-2024-as-working-days-for-all-customs-field-formations/feed/ 1 CBDT Orders Income Tax Offices to Operate on March 29-31, 2024 https://www.nyca.in/cbdt-orders-income-tax-offices-to-operate-on-march-29-31-2024/ https://www.nyca.in/cbdt-orders-income-tax-offices-to-operate-on-march-29-31-2024/#respond Tue, 19 Mar 2024 04:39:58 +0000 https://www.nyca.in/?p=7693 The Central Board of Direct Taxes (CBDT) has issued an Order dated March 18, 2024, announcing the extension of working days for all Income Tax Offices in India. This extension applies to March 29, 30, and 31, 2024, with the aim of facilitating the completion of pending work.

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The Central Board of Direct Taxes (CBDT) has issued an Order dated March 18, 2024, announcing the extension of working days for all Income Tax Offices in India. This extension applies to March 29, 30, and 31, 2024, with the aim of facilitating the completion of pending work.

Given that the Financial Year 2023-24 concludes on March 31, 2024, which falls on a Sunday, and March 30, 2024, is a Saturday, and March 29, 2024, is a closed holiday, this decision has been made to ensure that pending departmental tasks can be effectively addressed.

This directive, issued under section 119 of the Income-tax Act, 1961, by the Central Board of Direct Taxes, is aimed at providing administrative convenience and ensuring that necessary tasks are completed within the stipulated time frame.

For further details, the complete Order can be accessed at: https://www.nyca.in/wp-content/uploads/2024/03/CBDT-Order-18.3.2024.pdf

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